🔍 Technical Overview
• Key Support Levels:
o 1.3410 – 1.3430: current base support zone, close to late-week low
o 1.3380 – 1.3400: secondary support, based on July 15–18 lows
o 1.3300 – 1.3350: broader medium-term support area
• Key Resistance Levels:
o 1.3500 – 1.3520: short-term resistance formed mid week
o 1.3580 – 1.3588: weekly high resistance band
o 1.3650+: next upside potential if momentum resumes
• Indicators:
o RSI near neutral, slightly bearish bias
o Price trading below 9 day and 50 day EMAs, indicating technical softness

📰 Fundamental Highlights
• U.S.–EU Trade Deal Impact: A newly agreed trade pact briefly supported GBP via a weaker dollar dynamic, but the effect was limited, and broader sentiment favored USD strength
• UK Economic Data: Soft retail sales and below expected business activity sent GBP to weekly lows around 1.34185, despite benign inflation
• Investor Sentiment: Cost-conscious BOE expectations, sticky inflation, and divided views on rate cut timing continue to weigh on GBP

📅 Key Events This Week (Bullet Format)
• Wednesday, 30 July: BoE meeting minutes & commentary
• Thursday, 31 July: UK Q2 GDP & retail sales data
• Friday, 1 August: US non-farm payrolls, ISM Manufacturing, and UK CPI updates

📈 Weekly Outlook & Strategy
Bullish Scenario
• Holding above 1.3410–1.3430 opens potential for retests of 1.3500–1.3520
• A clear break above 1.3588 could extend gains toward 1.3650+
Bearish Scenario
• A break below 1.3410 may accelerate losses toward 1.3380–1.3400
• Sustained weakness could push below 1.3350